Heatwurx (NASDAQ:PCSA) Shares Up 122.3% – Time to Buy?

Heatwurx Inc. (NASDAQ:PCSA) traded up 122.3% during trading on Wednesday . The company traded as high as $8.88 and last traded at $6.68. 39,269,987 shares traded hands during trading, an increase of 1,903% from the average session volume of 1,960,796 shares. The stock had previously closed at $3.0050.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PCSA shares. HC Wainwright cut their price objective on Heatwurx from $50.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heatwurx in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Heatwurx from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.00.

Heatwurx Stock Performance

The firm has a market cap of $378.36 million, a price-to-earnings ratio of -4.91 and a beta of 1.09. The stock has a 50-day moving average of $7.58 and a 200-day moving average of $6.41.

Heatwurx (NASDAQ:PCSA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.25. Sell-side analysts predict that Heatwurx Inc. will post -4.05 EPS for the current fiscal year.

Heatwurx Company Profile

Processa Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops chemotherapy drugs to improve the safety and efficacy of cancer treatment. Its drugs are modifications of existing FDA-approved oncology drugs resulting in an alteration of the metabolism and/or distribution of drugs while maintaining the existing mechanisms of killing the cancer cells.